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0 -0.00194140487116139 -0.0028238616307802 0 0 0.0129426991410754 0.00205906577244378 -0.000470643605130089
Stock impact report

Fed's hawkish cut fires up rate hike debate [Globe and Mail, The (Toronto, Canada)]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
The end of the Federal Reserve's interest rate-cutting cycle is suddenly in sight, and a complete U-turn with rate hikes next year can no longer be ruled out. The Fed lowered the fed funds rate by 25 basis points on Wednesday to a target range of 4.25%-4.50%, as expected. But if ever there was a “hawkish cut,” this was it. The market reaction was swift and powerful: the dollar soared to a two-year high, stocks slumped, and Treasury yields surged. Markets can overshoot on days like these, but there was plenty here to back up the moves, whether investors were looking at the Fed's statement, its revised projections or Chair Jerome Powell's press conference. First, the decision to cut wasn't unanimous, as Cleveland Fed President Beth Hammack dissented. And Powell called the 25 bps cut a “closer call” than recent decisions. He also said that monetary policy is now “significantly less restrictive” and “significantly closer to neutral.” Additionally, policymakers significantly raise Show less Read more
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